NewGenIVF Group Limited Enters Repurchase and Forbearance Agreement

NewGenIVF Group Limited has entered into a Repurchase and Forbearance Agreement with JAK Opportunities VI LLC. This agreement involves the repurchase of outstanding convertible notes and warrants previously issued to the investor, along with specified forbearance payments. The company will repurchase the notes for an aggregate price of $4,531,250 and the warrants for $600,000. Additionally, a forbearance payment of $2,250,000 is to be made. These payments will be made through a scheduled installment plan extending through late 2027, with the option for the company to prepay any outstanding amounts without penalty. This agreement aims to simplify NewGenIVF's capital structure by eliminating potential dilution from the convertible notes and warrants, which management believes will allow the company's market capitalization to more accurately reflect its net asset value. The agreement also includes provisions for the investor to forbear from converting notes, exercising warrants, and effectuating additional closings, subject to the company meeting its obligations.